What’s the difference between Time & Materials, Fixed Fee, and Non-Billable projects?

When you create a project, you’ll be able to choose its project type: Time & Materials, Fixed Fee, or Non-Billable. But what do those terms mean?

Here’s the rundown:

Time & Materials: These projects bill by the hour at specific hourly rates (e.g., $100 per hour)—the more hours you work, the more you charge. You might also charge for expenses incurred to complete the project (like software, airfare, mileage, etc).

Fixed Fee: These projects bill a set price, no matter how many hours are worked (e.g., $1,000 to build a website). You might also charge for expenses incurred to complete the project. These expenses may or may not be included in the fixed fee.

Depending on your project type, Harvest will report on each project slightly differently. For example, the Uninvoiced Amount of Time and Materials projects increases as you track more time, but the Uninvoiced Amount of Fixed Fee projects won’t increase with tracked time, since they charge a fixed price.